LPL Financial plans to complete due diligence on Bitcoin ETF within three months

The adoption of Bitcoin ETF has been slowed down due to the due diligence process of large trading platforms. According to Bloomberg, LPL Financial Holdings, one of the largest independent brokerage firms in the United States, is currently reviewing recently approved BTC ETFs to decide whether to offer these funds to nearly 19,000 independent financial advisors who regulate assets of $1.4 trillion.

Rob Pettman, Vice President of Wealth Management Solutions at LPL Financial, said, "We just want to see how they operate in the market. Due diligence is a comprehensive analysis conducted before making a decision. It includes carefully verifying all facts, understanding risks and opportunities, and ensuring that everything is as it appears before investing funds or resources."

LPL Financial plans to complete due diligence on Bitcoin ETFs within three months. One key point in the evaluation is that if the ETF performs poorly and cannot accumulate a large amount of assets, it may be closed.